Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.

Tuesday, February 07, 2006

Don't Be a F*cked Borrower

I urge you not to become Another F*cked Borrower. SoCalMtgGuy is doing a terrific job warning potential and current buyers of how NOT to become another f*cked borrower. The writer is a mortgage broker in southern California. The blog / website Another F*cked Borrower is absolutely fantastic. He works in the field as a professional. This guy knows his stuff.

The toxic mortgages that have been pushed in recent years has reached obscene levels. Some of the f*cked borrowers are now are welcomed into the mortgage office with a red carpet would have been laughed out of there a mere 5 years ago. Something is wrong when lenders lend 400K to someone earning 50K who has put zero down and has a credit score in the mid 500s. Just because one can get a loan, does not mean they should.